Grant Deed Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Grant Deed, written in plain English, along with examples of how it is used.
What is Grant Deed?
(n) Grant Deed is the document made for transfer of the right in a real property described with specific identification marks therein, held by a person or entity, to another person or entity, by sale, gift or other mode of transaction with or without for any consideration
History and Definition of Grant Deed
A Grant Deed is a legal document used in real estate transactions to transfer the ownership of a real property from one party (grantor) to another (grantee). The grantor must have a present interest in the property and the right to transfer it. This type of guarantee provides a guarantee that the grantor has not sold or transferred the property to anyone else, has not failed to disclose any known encumbrances, and does not plan to encumber the property in the future.
A Grant Deed provides a clear chain of title with specific, identifiable characteristics of the property described within the document. This document is typically used in residential real estate transactions in California.
Examples of Grant Deed
- John Doe grants a piece of his property to Jane Doe via a Grant Deed.
- Mary Smith sells her home to Tom Jones with a Grant Deed.
- The executor of an estate transfers the ownership of a home to the beneficiaries of the will with a Grant Deed.
Legal Terms Similar to Grant Deed
- Quitclaim Deed: A legal document that transfers the interest in real property from one party to another but does not guarantee that the property is free from liens or encumbrances.
- Warranty Deed: A legal document that transfers ownership of a property and guarantees that the grantor has the legal right to transfer ownership and that the property is free from liens and encumbrances.
- Deed of Trust: A legal document used to secure a loan for real estate, using the property as collateral. It transfers the legal title to a trustee until the borrower can pay off the loan.